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Posted: Sun Feb 14, 2016 8:58 am
by Alan.22
i just done yearly review and my current iva company have just doubled my montly payment
my outgoings are same but because i had a pay rise they doubled it
Posted: Sun Feb 14, 2016 9:09 am
by kallis3
Hi,
As you had a payrise then your payments would increase if your outgoings are the same.
If you're not happy with it then query it with them as you should be allowed to retain some of your rise.
Posted: Sun Feb 14, 2016 9:18 am
by lifenoteasy
As kallis3 says you should be able to retain some of the pay rise generally based on the 10/50/50 rule.
If your outgoings had increased this would have impacted on the amount they could take.
Posted: Mon Feb 15, 2016 10:11 am
by Lisa Thomas
Usually you get to keep 55% of the increase in disposable income. Ask them for a breakdown of their calculations and check your terms re the 10/50/50 rule as LNE says.